Los Angeles Capital Management LLC Sells 31,530 Shares of American International Group, Inc. (NYSE:AIG)

Los Angeles Capital Management LLC reduced its stake in American International Group, Inc. (NYSE:AIG) by 90.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,414 shares of the insurance provider’s stock after selling 31,530 shares during the period. Los Angeles Capital Management LLC’s holdings in American International Group were worth $250,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in AIG. Crossmark Global Holdings Inc. increased its position in American International Group by 2.3% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 39,276 shares of the insurance provider’s stock valued at $2,876,000 after buying an additional 886 shares in the last quarter. Tyler Stone Wealth Management raised its position in shares of American International Group by 96.8% during the third quarter. Tyler Stone Wealth Management now owns 13,720 shares of the insurance provider’s stock worth $1,005,000 after purchasing an additional 6,748 shares during the period. Sigma Planning Corp bought a new position in shares of American International Group in the 3rd quarter worth $448,000. Atria Investments Inc grew its position in American International Group by 29.2% in the 3rd quarter. Atria Investments Inc now owns 60,986 shares of the insurance provider’s stock valued at $4,466,000 after purchasing an additional 13,771 shares during the period. Finally, Townsend & Associates Inc increased its stake in American International Group by 2.7% during the 3rd quarter. Townsend & Associates Inc now owns 465,747 shares of the insurance provider’s stock valued at $36,063,000 after purchasing an additional 12,075 shares in the last quarter. Institutional investors and hedge funds own 90.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on AIG. Bank of America lifted their price objective on shares of American International Group from $82.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 10th. Wells Fargo & Company lowered their price objective on American International Group from $77.00 to $76.00 and set an “equal weight” rating for the company in a research note on Wednesday, November 6th. TD Cowen cut their target price on American International Group from $83.00 to $80.00 and set a “hold” rating on the stock in a research report on Tuesday, August 13th. Jefferies Financial Group increased their price target on American International Group from $82.00 to $88.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Piper Sandler cut their price objective on shares of American International Group from $89.00 to $86.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.13.

Insider Buying and Selling

In related news, major shareholder International Group American sold 5,000,000 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $28.86, for a total transaction of $144,300,000.00. Following the sale, the insider now owns 279,238,898 shares of the company’s stock, valued at approximately $8,058,834,596.28. This represents a 1.76 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.61% of the stock is currently owned by insiders.

American International Group Price Performance

NYSE AIG opened at $76.31 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.65 and a debt-to-equity ratio of 0.22. The company has a market cap of $47.60 billion, a PE ratio of -22.51, a price-to-earnings-growth ratio of 7.50 and a beta of 1.05. American International Group, Inc. has a 52 week low of $63.79 and a 52 week high of $80.83. The firm’s 50-day simple moving average is $75.27 and its two-hundred day simple moving average is $75.67.

American International Group (NYSE:AIG) last announced its quarterly earnings results on Monday, November 4th. The insurance provider reported $1.23 EPS for the quarter, beating analysts’ consensus estimates of $1.10 by $0.13. American International Group had a negative net margin of 6.19% and a positive return on equity of 8.63%. The company had revenue of $6.75 billion for the quarter, compared to analysts’ expectations of $6.62 billion. During the same period in the prior year, the company posted $1.61 EPS. Research analysts predict that American International Group, Inc. will post 5.13 earnings per share for the current year.

American International Group Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 30th. Investors of record on Monday, December 16th will be paid a dividend of $0.40 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 2.10%. American International Group’s payout ratio is -47.20%.

American International Group Profile

American International Group, Inc offers insurance products for commercial, institutional, and individual customers in North America and internationally. It operates through three segments: General Insurance, Life and Retirement, and Other Operations. The General Insurance segment provides commercial and industrial property insurance, including business interruption and package insurance that cover exposure to made and natural disasters; general liability, environmental, commercial automobile liability, workers’ compensation, excess casualty, and crisis management insurance products; and professional liability insurance.